Discounted Cash Flow (DCF) Analysis Levered
Nucor Corporation (NUE)
$171.39
-5.24 (-2.97%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 20,252.39 | 25,067.28 | 22,588.86 | 20,139.66 | 36,483.94 | 44,163.76 | 53,460.18 | 64,713.49 | 78,335.60 | 94,825.15 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 1,051.26 | 2,393.95 | 2,809.41 | 2,696.88 | 6,230.78 | 5,091.83 | 6,163.65 | 7,461.09 | 9,031.64 | 10,932.79 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -448.56 | -982.53 | -1,477.29 | -1,543.22 | -1,621.99 | -2,188.99 | -2,649.77 | -3,207.55 | -3,882.73 | -4,700.04 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 602.71 | 1,411.42 | 1,332.12 | 1,153.66 | 4,608.79 | 2,902.83 | 3,513.88 | 4,253.54 | 5,148.91 | 6,232.75 |
Weighted Average Cost Of Capital
| Share price | $ 171.39 |
|---|---|
| Beta | 1.543 |
| Diluted Shares Outstanding | 291.15 |
| Cost of Debt | |
| Tax Rate | 25.80 |
| After-tax Cost of Debt | 2.07% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.897 |
| Total Debt | 5,684.81 |
| Total Equity | 49,900.54 |
| Total Capital | 55,585.35 |
| Debt Weighting | 10.23 |
| Equity Weighting | 89.77 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 20,252.39 | 25,067.28 | 22,588.86 | 20,139.66 | 36,483.94 | 44,163.76 | 53,460.18 | 64,713.49 | 78,335.60 | 94,825.15 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 1,051.26 | 2,393.95 | 2,809.41 | 2,696.88 | 6,230.78 | 5,091.83 | 6,163.65 | 7,461.09 | 9,031.64 | 10,932.79 |
| Capital Expenditure | -448.56 | -982.53 | -1,477.29 | -1,543.22 | -1,621.99 | -2,188.99 | -2,649.77 | -3,207.55 | -3,882.73 | -4,700.04 |
| Free Cash Flow | 602.71 | 1,411.42 | 1,332.12 | 1,153.66 | 4,608.79 | 2,902.83 | 3,513.88 | 4,253.54 | 5,148.91 | 6,232.75 |
| WACC | ||||||||||
| PV LFCF | 1,639.47 | 1,804.32 | 1,985.75 | 2,185.43 | 2,405.18 | |||||
| SUM PV LFCF | 16,130.22 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 9.99 |
| Free cash flow (t + 1) | 6,357.40 |
| Terminal Value | 79,566.99 |
| Present Value of Terminal Value | 49,427.30 |
Intrinsic Value
| Enterprise Value | 65,557.52 |
|---|---|
| Net Debt | 3,319.95 |
| Equity Value | 62,237.56 |
| Shares Outstanding | 291.15 |
| Equity Value Per Share | 213.76 |